Submitted by editor on January 1, 2011 - 13:24

http://www.webnewswire.com/node/645022

OKLAHOMA CITY—Today, MARK S. TRIMBLE, 45, of Edmond, Oklahoma, was sentenced by United States District Judge Timothy D. DeGiusti to serve 120 months in federal prison for money laundering arising from the operation of Phidippides Capital Management, LLC, where he diverted $1,000,000 of investor funds to his own account, announced Sanford C. Coats, United States Attorney for the Western District of Oklahoma. In addition, Judge DeGiusti ordered Trimble to serve two years of supervised release following his prison term and pay $9,045,451.23 in restitution to investors.

Trimble owned and operated Phidippides Capital Management, LLC (“Phidippides”), an Oklahoma limited liability company with offices in Edmond and Oklahoma City. According to court records, on May 9, 2007, an investor gave Trimble $2,000,000, was told it would be invested in various securities through Phidippides, and the funds were deposited into the bank account of Phidippides. Five days later, Trimble transferred $1,000,000 of the funds to his personal bank account. Then, on May 17, 2007, Trimble transferred that $1,000,000 to his personal investment account. Trimble pled guilty to money laundering on April 12, 2010.

These charges are the result of an investigation conducted by the Federal Bureau of Investigation, the Criminal Investigative Division of the Internal Revenue Service, and the United States Secret Service. The case was prosecuted by Assistant U.S. Attorney Susan Cox.

Trimble and Phidippides had also been named as defendants in a civil action brought by the Commodity Futures Trading Commission in a federal case filed in the Western District of Oklahoma styled Commodity Futures Trading Commission v. Mark S. Trimble, et al., CIV-09-154-D.